Preparing to close on a commercial property can often feel like spinning plates – there’s a lot to keep track of. That’s true for both the buyer and the seller of the property. To make things easier, we’ve compiled a list of essential documents that both the buyer and the seller need to bring to the closing table to ensure a smooth process.
5 Documents the Buyer Should Bring to Closing
Here are five documents the buyer should be sure to bring with them to the closing table:
- Photo ID (e.g. passport, driver’s license, or state-issued identification card)
- The purchase agreement (the buyer’s copy)
- Cashier’s checks for all required payments
- Proof of purchase of insurance
- Invoices for unpaid taxes, utilities, and assessments
6 Documents the Seller Should Bring to Closing
Here are six documents the seller should remember to bring to the closing table:
- Photo ID (e.g. passport, driver’s license, or state-issued identification card)
- The purchase agreement (the seller’s copy)
- Invoices for unpaid taxes, utilities and assessments, as well as the most recent readings from the utilities meter
- Receipts for the most recent mortgage interest payment
- Bill of Sale
- Proof of satisfaction of any mechanics’ liens, chattel mortgages, judgments, or mortgages that were paid prior to the closing
Commercial Partners Title
At Commercial Partners Title, we are known across the United States as experts in the field of commercial title insurance. With decades of experience at our back, we can help you through the ins and outs of your next commercial real estate transaction. Our team will work closely with you every step of the way, making sure you are informed and in the loop. Contact us today at our primary offices in downtown Minneapolis to learn more about our extensive title insurance services.